Medtronic (NYSE:MDT) claims it has a new robot-assisted surgery platform that is more flexible and cost-effective than systems presently on the market.
That appeared to be the message out today from the world’s largest medical device company as it unveiled its much-awaited Hugo RAS system. The system is Medtronic’s answer to a growing market that remains dominated by Intuitive Surgical (NSDQ:ISRG) and its da Vinci SP.
During an investor update held today in Hartford, Conn., Medtronic EVP Bob White repeatedly claimed that only 2% of surgeries around the world are held with the assistance of robots.
“There’s 98% out there that needs to be done via robotically-assisted surgery but not today because of the cost and utilization burdens,” said White, who is president of the Medtronic’s Minimally Invasive Therapies Group.
Said CEO Omar Ishrak: “In 10 years, not only this robot but other robots we have going will change the face of surgery.”
Medtronic plans to launch the Hugo system in undisclosed places outside the U.S. early the next year, allowing the company to start gathering clinical data, White said. CE Mark and U.S. IDE submissions will follow later in the year, with a goal of achieving U.S. 510(k) clearance in about two years.
Image Credit: Medtronic